Aug 22, 2022 by Julie Dietz
President Biden recently signed the CHIPS and Science Act of 2022. This semiconductor manufacturing package provides a 25% tax credit of qualified investment in chip manufacturing. Taxpayers may elect to treat the credit as payment against tax (“direct pay”). The credits applies to qualified investment placed in service after Decembers 31, 2022 and for which construction begins before January 1, 2027.
Please contact Julie Dietz if you are interested in discussing how your company may benefit from the new manufacturing tax credit.